Artrade tokenized a $200,000 Picasso, causing its ATR token to surge by 20%.

June 12, 2024

Hot projects + Market overview

I. Mainstream exchange news

• Bithumb, S. Korea’s second largest crypto exchange, lists the ICP-KRW pair.
• Binance is to list IO USDT-margined perpetual contracts with up to 50x leverage.
• Crypto.com gets a Virtual Asset Service Provider registration in Ireland.
• Binance has added bare-metal, ONDO, and TNSR USDT-margined perpetual contracts to its Copy Trading service.

II. Mainstream projects and trending events

• Coinbase Wallet launches Dune 404, the first 404 token standard project supported by Animoca Brands on Base.
• The US Fed will release the interest rate decision on June 14th at 02:00 AM Asia time.
• Ripple expands in Japan and South Korea through the XRPL Japan-Korea Fund.
• Sui Foundation launches the Sui Bridge testnet and incentive program.
• ProShares files an S-1 registration statement for Ethereum spot ETF with the US SEC.
• BitMEX co-founder Arthur Hayes joins Covalent as an advisor and receives CQT tokens as remuneration.
• The token merger between Fetch.AI, SingularityNET, and Ocean Protocol is postponed to July 15th.
• A whale adds another 79.8 billion PEPE to its holding, worth $970,000.
• Lido partners with Symbiotic and Mellow Finance to launch a secondary pledge vault.
• Ripple acquires Standard Custody & Trust Company, a New York-based crypto trust company.
• The LayerZero Sei Network V2 version goes live.

III. Funding news

• French AI startup Mistral AI raised €600 million from Series B participated by a16z.
• Binance Labs invests in Zircuit.
• A repledging project, Symbiotic, raised $5.8 million from a seed round led by Paradigm.
• Native account abstraction layer Zyfi raised $2 million from private funds.

IV. Regulatory news

• Russia plans to use CBDC for cross-border payments in the second half of 2025.
• Despite being listed for over a month, Hong Kong's Virtual Asset spot ETFs do not have any local bank distribution.

V. Popular projects 

Market Overview

BTC has dipped to  $66,051, a key support level, and started to fluctuate. The recent drop from $72,000 has reached the expected minimum decrease. However, continued observation is needed to see whether the $68,500 level can be effectively broken to reverse the trend.

If BTC continues to fall below $65,000, the adjustment period may continue to lengthen. There will be an influx of news this week, and maintaining a "watch more, act less" strategy could be considered.

BTC Spot ETF as of June 11th

Overall Data:

• Total Net Inflow: $15.42 billion

• Daily Net Outflow: $200 million

• Single-Day Turnover: over $853 million

• Proportion of BTC’s Market Value: 4.47%

Breakdown by ETF:

• GBTC:

○ Net Asset Value: $19.01 billion

○ Single-Day Net Outflow: $121 million

○ Cumulative Net Outflow: $18 billion

○ Single-Day Turnover: $326 million

• FBTC:

○ Net Asset Value: $11.68 billion

○ Single-Day Net Outflow: $7 million

○ Cumulative Net Inflow: $10 billion

○ Single-Day Turnover: $277 million

• ARKB:

○ Net Asset Value: $3.24 billion

○ Single-Day Net Outflow: $56 million

○ Cumulative Net Inflow: $3 billion

○ Single-Day Turnover: $119 million

BZZ is up 85% from its low point

Developed by the Ethereum Foundation, Swarm utilizes pools of storage, bandwidth, and computing resources to bolster applications on the Ethereum network. Swarm aims to create a decentralized, resilient, infallible, and censorship-proof solution for peer-to-peer storage and services.

The 2024 Swarm Summit scheduled for June 20th - 21st, will delve into decentralized storage, privacy, data sovereignty, and AI. 

The BZZ, Swarm’s native token, has been performing strongly, surging 85% from its low point.

ATR up 20% in a day

With a daily uptick of 20%, ATR from Artrade - an NFT marketplace for real-world art assets, is gaining traction. Artrade transforms physical artworks into on-chain assets, thereby digitizing their ownership rights. 

A Picasso painting worth $200,000 was tokenized by Artrade on May 26th. Participants in this sale will receive ATR airdrops, and the physical artwork will be securely stored by Artrade.

CTK is up 10% in a day

Established in 2019, ShentuChain (CTK) is dedicated to enhancing the security and trustworthiness of decentralized technologies. Its products include a reward program for vulnerability discovery, called OpenBounty, and an inscription marketplace ecosystem for Cosmos. 

OpenBounty bridges Web3 projects with white-hat hackers for mutual security and reward benefits. In addition, projects on OpenBounty receive an extra 10-15% bonus in $CTK. 

On June 10th, Shentu Chain announced a partnership with Maple Finance, offering a reward of up to $500,000. The CTK token has seen frequent fluctuations recently and is up 10% within a day to $0.78.

On-chain Daily

1. BULEI: BULEI is the Chinese Brett on the Ethereum chain.

Current Price: $0.0(4)165

Historical High: $0.0(4)346

24-hour Change: +215%

Current Market Value: $6.9M

Official Twitter: https://x.com/Bulei_Coin

Trading Dashboard: https://dexscreener.com/ethereum/0xf879ada5643d19704661020ec4bfe5ff871e62f9

2. STONKS: STONK is a classic invest-themed memecoin representing profits from seemingly poor investment decisions.

Current Price: $0.0(4)544

Historical High: $0.0(4)673

24-hour Change: +305%

Current Market Value: $22.5M

Official Twitter: https://x.com/StonksTokenERC

Trading Dashboard: https://dexscreener.com/ethereum/0x20790842e3b690bda633c8fa531167dae8547a2e

3. DADDY: DADDY is a memecoin on the Solana chain, featuring the controversial Andrew Tate, a prominent American internet personality. The project has been taken over by the community but has strong support from Tate himself.

Current Price: $0.0949

Historical High: $0.19

24-hour Change: +140%

Current Market Value: $95M

Official Twitter: https://x.com/DaddyTateCTO

Trading Dashboard: https://dexscreener.com/solana/zcdaw3jpcqey8jyvxnvmqs2cu35cyddy4ot7v8ednhz

4. PICKLE: PICKLE is a memecoin on the Solana chain, featuring a character created by MATT FURIE, the father of Pepe. The project has been taken over by the community.

Current Price: $0.00162

Historical High: $0.0479

6-hour Change: +232% (Token Launch Time: 5/11, 10:30 UTC)

Current Market Value: $1.6M

Official Twitter: https://x.com/pickleonsol_cto

Trading Dashboard: https://dexscreener.com/solana/hz79irugu8hpemhy9nm5pgw8dxamcxos4bkg4t5jpjcj

5. BBRETT: BBRETT is a memecoin on the Base chain. It is a kid version of Brett (Baby Brett). A tax of 5% is deducted on each trade, 3% of which is used for rewards and 2% for a token buyback. Reward tokens are distributed to holders every five minutes.

Current Price: $0.00742

Historical High: $0.00884

6-hour Change: +97.5% (Token Launch Time: 5/11, 15:00 UTC)

Current Market Value: $758K

Official Twitter: https://x.com/babybrettonbase

Trading Dashboard: https://dexscreener.com/base/0x05511784abc6e20b3f206101bb48d222771ebd85

6. KEYCAT: KEYCAT is a memecoin on the Base chain, which was taken over by the community on March 28, 2024. It features the original Keyboard Cat meme from 1978, Fasto. After the character makes a mistake, a video of a cat playing the piano follows, highlighting the situation.

Current Price: $0.005

Historical High: $0.118

24-hour Change: +15%

Current Market Value: $50M

Official Twitter: https://twitter.com/KeyboardCatBaseTrading Dashboard: https://dexscreener.com/base/0x377feeed4820b3b28d1ab429509e7a0789824fca

Daily Rune Observation

Gas Fee change: The current BTC transaction fee is 24 bytes/satoshi, with a 24-hour decrease of 20%. The Rune market sentiment has cooled down, following the price drop and consolidation of Bitcoin, making it an opportune time to amass prospective Runes.

Today's popular projects

With a sudden drop in market heat and fewer mints,

A•BILLI•A•BILLI•A•BILLI•A•BILLI: A total of 20,000 pieces, reserve 1.5%, current minting is 1,247, with 1,050 in the memory pool. Minting progress has reached 7%, with only 16 addresses holding it.

HODL•BOX•RUNE•PIE: A total of 10,000 pieces, reserve 5%, current minting is 2,414, with 884 in the memory pool. Minting progress has reached 30% but is only distributed to 48 addresses.

WONDERLANDWABBIT: A total of 1 million pieces, reserve 20%, current minting is 6,243, with only 39 pieces in the memory pool. Minting progress has reached 21%, but note that the number of holding addresses is as high as 5,952.

Top Runes Projects Tracking

DOG•GO•TO•THE•MOON: Runes #3, also known as the airdrop Runes of Runestone. The current price is 9.21 Sats. The 24-hour decrease is 4.5%, and the current market value is 9,214 BTC.

BANK•OF•NAKAMOTO•DOLLAR: A synthetic dollar protocol built on Bitcoin L1. The current price is 12.99 Sats, with a 24-hour surge of 23.83% and the current market value of 2,727 BTC. This was one of the few Runes that surged against the trend.

RSIC•GENESIS•RUNE: Runes #8, also the Runes created by the famous inscription mining project RSIC.  The current price is 12.25 Sats, with a 24-hour decrease of 5.6% and a current market value of 2,668 BTC.

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